Schedule IV Mortgage Loans on Real Estate

12 Months Ended

Dec. 31, 2014

Mortgage Loans on Real Estate [Abstract]

Schedule IV Mortgage Loans on Real Estate

Schedule IV

Mortgage Loans on Real Estate

December 31, 2014

(Amounts in thousands)

Type of Loan	Location	Interest Rate			Contratual Maturity Date		Periodic Payment Terms	Senior Liens		Face Value		Outstanding Principal		Carrying Amount (1)
Mezzanine	Chicago, IL Norridge, IL		LIBOR + 12	%		03/09/17	Interest Only		—	$	15,500	$	15,500	$	18,690
Whole Loan	Chicago, IL		10.0%			09/10/17	Interest Only		—		2,497		2,497		2,511
B-Note Other	Kauai, HI		6.658%			01/06/17	Amortizing		28,272		2,791		2,791		2,804
Mezzanine	Rockwell, NY		12.0%			05/01/16	Interest Only		16,342		1,486		1,486		—
Whole Loan	Churchill, PA		LIBOR + 3.75	%		06/01/15	Interest Only		—		333		333		—
										$	22,607	$	22,607	$	24,005

(1) Carrying amount represents the estimated amount expected to be collected on disposition of the loan, plus contractual interest receivable at December 31, 2014.

Reconciliation of Mortgage Loans on Real Estate:

The following table reconciles Mortgage Loans for the years ended December 31, 2014, 2013 and 2012.

	2014			2013			2012
Balance at January 1	$	101,100		$	211,250		$	114,333
Purchase and advances		35,992			22,314			175,550
Interest (received) accrued, net		(283	)		(514	)		516
Repayments / Sale Proceeds		(120,194	)		(75,407	)		(68,824	)
Loan accretion		2,086			4,121			8,333
Discount accretion received in cash		(5,865	)		(37	)		(15,720	)
Liquidation adjustment		6,071			—			—
Change in liquidation value		5,098			—			—
Reclass to equity investments		—			—			(2,938	)
Elimination of 1515 Market Street in consolidation		—			(60,279	)		—
Provision for loss on loans receivable		—			(348	)		—
Balance at December 31	$	24,005		$	101,100		$	211,250